- MicroStrategy (NASDAQ:MSTR) stock climbs 3.3% in midday trading, recovering a fraction of the 14% slide the shares suffered since Monday's open.
- Since deciding in September 2020 to make bitcoin its primary treasury reserve, and continually adding to its bitcoin holdings, MSTR's stock has largely been tied to moves in the largest cryptocurrency by market cap.
- As of June 21, MSTR held 105,085 coins, having added 13,005 recently.
- Bitcoin rises 1.8% in the past 24 hours, recently trading at $34.1K, having stabilized somewhat from its sudden dip earlier this week.
- As for other cryptocurrencies, ethereum (ETH-USD) rises 1.0%, approaching the $2,000 level; Binance Coin (BNB-USD) gains 5.2% to $307.11; Cardano (ADA-USD) surges 12% to $1.38; Litecoin (LTC-USD) climbs 5.5% to $134.15; dogecoin (DOGE-USD) gains 4.9% to 24 cents.
- As for other crypto-related stocks, Marathon Digital (MARA +5.5%), Riot Blockchain (RIOT +2.5%), Coinbase (COIN +0.9%), SOS Ltd (SOS +0.9%), Bitfarms (BITF +1.6%).
- The sole crypto-related stock that's down today appears to be Bit Digital (BTBT -3.9%), which today announced it signed the Crypto Climate Accord.
- SA contributor Josh Arnold looks at whether MSTR is a viable bitcoin replacement